Volkswagen to buy Italdesign-Giugiaro

Italdesign-Giugiaro S.p.A could soon become another group under the Volkswagen AG umbrella, according to Automotive News Europe. The industry publication cites two sources that claim the German company is set to buy a controlling stake in Italy's largest design and engineering firm, a deal which could be clinched as early as next week.

Founded by Giorgetto Giugiaro and Aldo Mantovani in 1968, Italdesign-Giugiaro currently has 975 employees and 800 CAD workstations. These assets are particularly appealing to Volkswagen, whose aim is to become the largest global automaker by 2018.  

Volkswagen has collaborated with Italdesign-Giugiaro on numerous projects over the years. The Italian design firm created the first generation VW Golf in 1974, which remains one of the most iconic designs for the VW brand, as well as the first generation VW Passat and Scirocco (revealed in 1973 and 1974, respectively). Giugiaro's company also designed the 1978 Audi 80 and various Seat Cordoba, Ibiza and Toledo models.

The Italian design house also worked on a series of concepts for the VW Group, including the 1970 Volkswagen Porsche Tapiro concept and, most recently, the 1990 Bugatti ID 90; the EB 112, 118 and 218; and the 18/3 Chiron concept. In 1997, the W12 Syncro was revealed at the Tokyo Motor Show. It was the first of three W12 concepts devised by Italdesign.

We'll bring you further details as this story develops.

By Eric Gallina